Hi to all,Totterdell91 has persuaded me to join the dark side...

Hi to all,

Totterdell91 has persuaded me to join the dark side and dabble in the black art of charting. I have succumbed. After reading the chicken entrails and casting the stones for a number of times in preparation, I have now gained sufficient courage to post my first chart. T91 has reviewed my findings and agrees with my interpretation.

The price movement over the last two trading sessions indicates the start of what should be a continuing upward trend that should target the area marked with the black circle at the top right corner of the chart. This area represents the upper median line of the red pitchfork but more importantly, is a return to the median line of the blue, longer term pitchfork which describes the longer-term upward trend.

The near-term target is $1.34.

Should the DOW experience another significant drop tonight, it is possible that BRM's price could pull back as part of a general ASX retreat, but it is unlikely that it would spike below the red median line at worst. That is to say, a down day tomorrow on the ASX could see BRM touch $1.18 temporarily before recovering.

BRMs previous habit is to counter the trend of the US
market, but that pattern of behaviour should not be relied on.

Regards,
Bones